Global Markets Update Our big calls for 2011 (and beyond) We expect 2011 to be a year of generally disappointing growth but also fading fears of inflation in the developed economies, with lower industrial commodity prices and a stronger US dollar against... 13th January 2011 · 1 min read
Europe Commercial Property Update Outlook is bright for Helsinki industrial rental values Finland’s strong external trade links should mean that industrial occupier demand in Helsinki holds up better than many other euro-zone cities over the next couple of years. And given that industrial... 13th January 2011 · 1 min read
UK Data Response UK Industrial Production (Nov.) November’s industrial production figures confirmed that the manufacturing recovery remains in rude health. But the sector’s strong recovery is unlikely to prevent the overall economic recovery from... 13th January 2011 · 1 min read
UK Commercial Property Update Higher investor interest may support shopping centre returns in 2011 The scope for active asset management to boost shopping centre returns will explain most of the recent rise in investor interest in the segment. Although its importance can be overstated in a year... 13th January 2011 · 1 min read
Japan Data Response Machinery Orders (Nov.) The November data show that machinery orders were on track to fall in the fourth quarter of last year, suggesting that investment will have declined too. Hopes that a continued recovery in business... 13th January 2011 · 1 min read
UK Housing Market Update Struggling tenants will limit growth in average rents If our unemployment forecasts are correct, the rise in the number of tenants who are struggling to meet their rents may be the start of a growing trend. At the very least these figures support our... 12th January 2011 · 1 min read
Global Markets Update Gilts should have a better second half of the year Gilts have had a rough ride over the past couple of months in common with the government bonds of other major economies. Things are unlikely to improve for a while – we think the 10-year yield will... 12th January 2011 · 1 min read
Emerging Europe Economics Update What would EMU break up mean for Emerging Europe? With Portugal seemingly on the cusp of an IMF/EU bailout, we suspect that the euro-zone debt crisis is about to enter a new, more dangerous, phase that ultimately ends in some form of break-up of the... 12th January 2011 · 1 min read
Europe Chart Pack Household spending prospects weaken Recent news on the euro-zone household sector has placed a dent in hopes that the external recovery is spreading to the domestic economy. November’s sharp drop in retail sales, and Q3’s downward... 12th January 2011 · 1 min read
Asia Economics Update Bank of Thailand to continue tightening The Bank of Thailand (BoT) raised its policy rate by 25bp to 2.25% today, as expected. Growth is likely to pick up during the course of this year, and will be led by strengthening domestic demand and... 12th January 2011 · 1 min read
UK Markets Chart Pack Interest rate expectations ratchet higher Recent increases in commodity prices and further signs that spare capacity in the UK economy is failing to bear down on inflation have raised expectations that the Monetary Policy Committee (MPC) will... 12th January 2011 · 1 min read
Europe Data Response Euro-zone Industrial Production (Nov.) November’s healthy rise in euro-zone industrial production adds to evidence that the recovery continued in Q4. But the ever-widening divergences between different countries continue to cast doubts on... 12th January 2011 · 1 min read
UK Data Response UK Trade (Nov.) November’s UK trade figures are not as bad as the widening in the headline deficits suggests. However, it is clear that net trade is giving at best a limited boost to the wider economic recovery. 12th January 2011 · 1 min read
Europe Commercial Property Update Property yields in Warsaw to remain lower than in Prague The relative strength of the Polish economy compared to the Czech Republic during the global economic downturn has helped to push commercial property yields in Warsaw below those in Prague. Given our... 12th January 2011 · 1 min read
Japan Data Response Economy Watchers Survey (Dec.) The Economy Watchers Survey (EWS) suggests that the recovery may have regained some momentum in December, but the outlook component is still weaker than current conditions and both are well below the... 12th January 2011 · 1 min read
